71 West 47th Street

Midtown East

New York, NY 10036

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Building Details

Attended Lobby✔︎

Turnstile✔︎

24/7 Access✔︎

Walk Score®100

Noise Index0.67

Located in the Diamond District, 71 West 47th Street features tiered architecture, red brick, and fiber connectivity. The building, also known as the Federation Building, was constructed in 1928 and stands 16 floors tall.71 West 47th Street is centrally located between some of New York Citys top attractions. Just a few blocks to the north is Rockefeller Center, which is particularly beautiful in the winter months. To the east is Grand Central Station, a major transportation hub. Bryant Park offers an outdoor retreat to the south, and, finally, to the west is arguably the most iconic area of Manhattan, Times Square.

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Neighborhood

Midtown East, an area of Midtown, is a popular office space location, especially for consulting firms, financial services firms, media companies, and hedge funds. Located near many of Manhattan’s most iconic landmarks, the area is not only a business center but also a well-traveled tourist destination. Midtown East encompasses several unique neighborhoods including the Plaza District, Park Avenue, Madison Avenue, and Grand Central Station.

Midtown East Office Space | Lease Data & Trends

Office space rental prices vary greatly based on location, building class, and lease terms and length. On the high end of the spectrum, Class A office space in the Plaza District or on Madison Avenue can cost $100 per square foot. Conversely, Class B office space for lease in the Garment District or near Grand Central Station goes for closer to $60 per square foot.

What Our Brokers Say About Midtown East Office Space

The borough of Manhattan south of Central Park is traditionally divided into Midtown, Midtown South, and Lower Manhattan. Midtown East is the Eastern half of Midtown that is bordered by Fifth Avenue to the west, the East River to the east, 59th St. to the north, and 42nd Street to the south. The area is home to the Chrysler Building, Rockefeller Center, and the United Nations Headquarters, and visitors will notice a lot of areas that look familiar because they’ve appeared on postcards and in TV shows.

Midtown East is primarily a business district and is relatively quiet during the evenings. Traveling around the area and getting to and from nearby districts is easy, especially with the convenient juxtaposition of Grand Central Station, which is not only one of the biggest hubs for public transportation in NYC but also a historic landmark. Nearby subway lines include: 4, 5, 6, N, Q, R, B, D, F, M, E, and 7. If visiting business partners need a place to stay, book rooms in The Langham, The Bernic Hotel, Fitzpatrick Grand Central, or Pod 39.

Popular Neighborhoods in Midtown East

Each neighborhood located within Midtown East has unique character and features.

Grand Central Station: Whether you call it by its official name, Grand Central Terminal, or its nickname, Grand Central, this neighborhood is known for housing Grand Central Station, one of the biggest transportation hubs in NYC. Securing office space here means working alongside companies such as Salesforce, YES Network, Oracle, Metlife, and New York Life Insurance.

Madison Avenue: Madison Avenue, one of the most well-known streets in America, is home to some of the nation’s most influential businesses. Named after the United States’ fourth President, James Madison, Madison Avenue is clean, beautiful, and graffiti-free. Though no longer the center of the advertising world, Madison Avenue is still an area in high demand.

Plaza District: The Plaza District houses some of the most premier commercial real estate in NYC. A 10% vacancy leaves potential tenants with plenty of options to join the district’s current tenants, which include Colgate-Palmolive, Bloomberg, and NBC Studios.

Park Avenue: Park Avenue, originally called Fourth Avenue, houses some of the nation’s most expensive real estate, and some of NYC’s richest CEOs live there. Fortune 500 companies such as Citigroup, Mutual of America, JP Morgan, and Metlife have Park Avenue addresses from here.